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- W3122870359 abstract "We examine the mean-reverting properties of real exchange rates, by comparing the unit root properties of a group of international real exchange rates with two groups of intra-national real exchange rates. Strikingly, we find that while the international real rates taken as a group are mean-reverting, the intra-national rates are not. This is consistent with the view that while monetary shocks may be mean-reverting over the medium-term, underlying real factors do generate long-term trends in real exchange rates." @default.
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- W3122870359 date "1998-05-01" @default.
- W3122870359 modified "2023-09-27" @default.
- W3122870359 title "Deviations of Exchange Rates from Purchasing Power Parity; A Story Featuring Two Monetary Unions" @default.
- W3122870359 hasPublicationYear "1998" @default.
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